According to Future Market Insights (FMI), the global pet food ingredients market is set to be valued at US$ 42.2 billion in 2023. It is anticipated to reach US$ 68.3 billion by 2033. The market is expected to escalate at a CAGR of 4.9% from 2023 to 2033.
Increasing pet ownership is the primary reason driving demand for pet food ingredients. Rising pet ownership has a big impact on demand for non-discretionary and discretionary goods such as treats, toys, and other food items.
Percentage of homes with pets is relatively high among millennials, senior adults, and one-person households. The number of families with cats and dogs as pets is increasing, which is a key factor driving the pet food ingredients industry.
The use of parabens is governed by the USA Food and Drug Administration (FDA). It is a preservative that is typically present in pet food ingredients, as well as pharmaceutical and cosmetic products. Reproductive, nervous, and developmental systems of animals may be harmed by endocrine-disrupting substances (EDCs) present in parabens.
Early research has revealed the presence of heavy metals and bisphenol A in pet food, as well as other endocrine-disrupting chemicals. Growing knowledge of the negative effects of preservatives may hinder sales of products that are used to make pet food ingredients. Commercial dog food sometimes contains preservatives such as butylated hydroxyanisole (BHT) and butylated hydroxytoluene (BHA). These are believed to contain chemicals that can lead to animal cancer.
Research and development initiatives focused on optometry are set to receive significant funding. Customers are looking for ingredients in pet food that would offer convenience and effectiveness.
As a result, issues such as the number of ingredients in pet food have little bearing on sophisticated product versions. For instance, modern innovation and technology have sparked the creation of appealing packaging, with quality being the top concern for comfort of consumers.
Information Source: https://www.futuremarketinsights.com/reports/pet-food-ingredients-market
Key Takeaways from the Pet Food Ingredients Report:
• The Europe pet food ingredients market is anticipated to escalate at 5% CAGR over the forecast period.
• Leading companies in the global pet food ingredients industry are likely to account for around 20% to 25% of the total market share.
• The North America pet food ingredients market is estimated to surge at an 5% CAGR over the forecast period.
• The USA pet food ingredients industry is set to create an absolute dollar opportunity of US$ 18.7 billion in the next ten years.
• India pet food ingredients market is expected to witness growth at a CAGR of 7% in the assessment period.
“Over time, dog adoption has considerably escalated, especially in industrialized and developing countries. Need for pet food is predicted to surge quickly, which would benefit the market for pet food ingredients. Another element driving the market is increasing demand for premium dog food, which is supported by high maintenance costs,” says a lead analyst at Future Market Insights.
Competition Landscape: Pet Food Ingredients
The global market for pet food ingredients is extremely competitive due to the fact that big pet food manufacturers are continually broadening their product offerings. They are using a wide variety of organic and inorganic strategies, including alliances, mergers, new product launches, construction of novel manufacturing facilities, and bolstering of distribution networks, to enhance their global footprint.
Get More Valuable Insights into Pet Food Ingredients Market
In its latest offering, Future Market Insights offers a thorough study of the pet food ingredients industr, covering historical demand data (2018 to 2022) and forecast data from 2023 to 2033.
The study provides compelling insights into the global pet food ingredients market ingredient type (starches, rice, dietary fiber, fruit ingredients, protein), animal type (dogs, cats, birds), nature (organic, conventional), product type (wet food, dry food, treats & chews), distribution channel (online, offline), and region.
Pet Food Ingredients Market Outlook by Category
By Ingredient Type:
• Starches
o Maize/Corn
o Tapioca
o Potato
o Wheat
o Rice
o Whole Grains
o Fruits and Vegetables
o Seeds and Legumes
• Dietary Fiber
o Wheat
o Rice
o Bran
o Potato
o Legumes
o Oats
o Inulin
o Nuts and Chicory Root
• Fruit Ingredients
o Apple
o Cranberry
o Blueberry
o Other Fruit Ingredients
• Protein
o Sugar
o Fructo-Oligosaccharides
o Manna-oligosaccharide
o Sorbitol
o Propylene Glycol
o Glycerol
By Animal Type:
• Dogs
• Cats
• Birds
• Others
By Nature:
• Organic Pet Food Ingredients
• Conventional Pet Food Ingredients
By Product Type:
• Wet Food
• Dry Food
• Treats and Chews
• Other Product Types (Frozen Food, Raw Food)
By Distribution Channel:
• Online
• Offline
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa